Winner: Trade of the Week for December 19 to 23, 2011

Winner: 2011-12-19 23:41
It was a fierce battle of trade ideas, but the tribe has spoken! For the last time this year, the Trade of the Week crown belongs to…


Now on his fourth win this year, Jabroni scoops up a total of 27 votes for his AUD/USD short trade idea! Here’s a sneak peek:

AUD/USD Short by Jabroni

Long or Short: SHORT
Entry Point: 0.9980
Stop Loss: 1.0070
Profit Target/s: 0.9800
Reward-to-risk Ratio: 90 pips vs 180 pips (2:1)
Risk percentage: 1.5%
Indicators: 100SMA (red line)
Trade Rationale: risk off markets, i think AUDUSD will have a tough time climbing up above parity to end the year. Also, potential major resistance level (falling trend line, 100SMA,1.0000 major level)

To find out more about his trade idea, check out his short AUD/USD post!

Alright kids, that’s it for my Trade of the Week contest this year! Here’s the complete list of the brave souls who earned the right to the Trade of the Week Hall of Fame.

I’ll be visiting my fellow ninja traders in the next couple of days, but you can bet your neighbor’s cat that I’ll be back next year!

In the meantime, I invite you to finish up the School of Pipsology during the holidays. Who knows, maybe YOU will be the one to bring home the bacon for next year’s Trade of the Week contests!

Voting: 2011-12-16 23:38

We have four awesome trade ideas, but there can only be one winner. Which trade will you vote for this week’s Trade of the Week contest?

Our roster has a couple of comdoll trades and two more involving the Swissy. Let’s check ’em out!

Keep in mind that you only have until 12:00 a.m. EST on December 19, 2011 to cast your votes. So you better act fast!

Submission: 2011-12-16 00:31

Got a setup that you want to share to the other forex traders? This is your opportunity!

Whether you’re the grand master of forex or a newbie who just wants to test your newfound knowledge, you’re invited to share your trade ideas to the community. Just follow the easy steps below:

  1. Create your very own thread under the Readers’ Choice: Trade of the Week forum.
  2. Make sure you follow the simple format stated in the official rules and regulations of the contest.
  3. Watch fellow forex fanatics vote for your trade!

You can submit your entries only until 12:00 am midnight on Friday. Voting immediately begins right after that so start putting up those winning setups!

  • Salman

    Why 0.9800 is the target ? and how long time do you think it will need to get there ?

  • Salman

    And do you think it will hit .9980 before it stars going down ? I already entered at .9926

    • yitro

      Hope you held tight lol..  you should be looking at a couple of dollars now, now that it’s hitting .9915 or so. good luck.

      • Salman

        Yes I did ! I am wonderign when to sell though ??

        • yitro

          I say if you’re unsure, then rely on the RSI index.. Better than holding for too long.

  • Youngerprodigy
    fib lines, down trend, .9800 is the target but who knows how long.  playin that junks by ear.

    • Salman

      Thank you !

  • Salman

    I am wondering what is very reasonable point to sell ?

  • Salman

    I have TP at .9850  but do u think that 9800 is safe and reasonable point to sell ?

    • Salman

      I have a feeling that there is ssuport point around .9880. It hit it last week and now. What do you think ?

  • Bababanky

    No I actually thought 9800 was unsafe and unreasonable place to sell.